Member Info for oilmanmike

I have been wondering what would be a suitable comparison to TRP for a little while and now I think I have found a candidate. After watching the video to the left of this page it turns out that Petro Matad (MATD) is a good comparison.
Rather than trying to compare other W African plays I wanted to compare with other companies with projects at a similar stage to Tower's.

Petro Matad owns 100% of of their Mongolian blocks and have identified a 25m bbl of recoverable Oil which requires an initial £10m to develop. They are considering their options but the main two are a partner (farm out) or equity financing. Having got this far I realised this sounds rather familiar, so I decided to take a look at the numbers.
Both companies currently own 100% of their respective assets.
Both assets are at the same stage of development and require a similar amount to progress to production. Whether the financing come via equity or Partnering of equity or a combination is
a bit of an irrelevance at the end of the day, this is because the overriding consideration is the final
percentage of the project they have managed to retain.
Assuming they both manage to keep a 50% share then by looking at the different current market capitalisations of the respective companies a valid comparison can be made.
In this case because MATD has a £25m market cap and they are looking to develop 25m bbls of Oil
the valuation is easy to calculate. It is simply £1 a bbl for their asset at this stage.
Using this approach for Tower implies that TRP should be valued at £18m just for Cameroon where
we are at Now. Thats 1.64p a share which is 172% above our current price.
That is why I am staying Puy and will double up my position on any weakness

silver51 filtered me when it was 1.3p and I said it was going below 1p.
Thats how he rolls.

thanks CAR3Y

@ 0.685p

moved bid up to 0.65p to hide buys a sells.
Only add to my conviction that MM in trouble
here!! The buying continues.

investing . com is showing 0.65p bid. Odd!!

sorry to be a pain but is that Peel bidding 0.65p?

thanks Essex.
Quick question: how many mm on total for TRP?
TIA

Potter the MM need stock here.
Hence to wide spread to put traders
off buying. Should not put investors
off though. True spread is around 10%
which is typical for AIM stocks.

37th position on the market movers board today.
This is behaving very well over the consolidation Imo

The MV Investigator and The Judge are heading towards the port of Limboh which is a smaller port closer to the drill site. Perhaps Tonnacombe can throw some light on this later?

In the Cameroon and Operational with TRP as operator according to Wood Mackenzie.
This probably means on stand by in all reality.

Saw that also MV Investigator was followed there and back by The Judge which is some kind of search and rescue vehicle. Perhaps this was an initial safety visit to site.

you mean you have been on a wild goose chase over at Lek Oil and it's now more here than you sold for yesterday.
get back in here before it's too late

just popped up on the trending leaders list.
only really been using this list a little while
to generate ideas. It seems to indicate how
much interest there is on line.
Still making my mind up. Lets see

MM now fishing down at these levels.
Not getting many bites. Only tiddlers!!

CNOOC is the parent company for COSL
Asher did mention that there was still time
for a last minute entrant in a recent interview.
Very leaky in Chinese capital markets would be
another explanation for the 2 x 100m vol days.

MM playing games again to hide buys as sells.
4 of the last sales were actually buys for a total
of around 2m share in the last hour.
Something brewing to the upside IMO

buy some more then.
it really is that simple

Indeed Mookster I will I let folks know when it is finished.
Currently at the drill site located N04 08 06.89. (04.1352)
E008 45 28.73 (008.7580)
They are surveying where the three rig legs are going to be
positioned and so it should be possible to tell when they are
on the third one and about to leave.
I got a feeling the well will spud way sooner then people currently
believe